I have my precalc final tomorrow and i forgot how to do the following:

Find the Annual Percentage rate on an account that pays 7.2% interest compounded continuously.

Thanks.

edit: yield-->rate
Last edited by H(i)SS at Jun 4, 2008,
precalc? i did that in algebra 1.

ummm......i can't remember but it has to do with the initial amount with the percent interest, then how many years it is in effect, and then how often it is compounded. i can't beleive i forgot it.
\$74,000 actually.
I believe this is that "pert" formula.
amiright?
I did this earlier this year (I'm in IMP3, which comes right before pre-calc), but i've forgotten
Quote by dylpikle9
I believe this is that "pert" formula.
amiright?
I did this earlier this year (I'm in IMP3, which comes right before pre-calc), but i've forgotten

Yeah it's Pe^rt, but idk how to find the APR
Quote by H(i)SS
Yeah it's Pe^rt, but idk how to find the APR

You automatically get 0% APR financing when you purchase a Ford truck
Quote by H(i)SS
this weekend only

AT THE DUMP
This weekend, nobody will be where they're supposed to be! Because they'll all be getting their cars financed with Chevy!!
Isn't the answer just 7.2%? That's the interest rate annually..

Is it even possible to work out total yield, without set units of time to divide the rate by? "Continuously" doesn't help much. That would be 0.072/infinite.
PPPPPPPOSTFINDER
you are looking for exponentail growth i assume? P=C e^rt
Quote by nincompoop
potcorn56, you are a god.
Quote by potcorn56
you are looking for exponentail growth i assume? P=C e^rt

yeah. i just need to know how to get the APR. I thought i knew how to but I got it wrong.